logo

Sebi to soon come out with revised KYC norms for FPIs

Sebi to soon come out with revised KYC norms for FPIs

Mumbai: In a significant move, Sebi Tuesday said it would soon come out with revised KYC norms for foreign investors and also allow overseas entities to trade in the commodity derivatives market.

Foreign entities with exposure to the Indian physical commodity market would be allowed to trade in the commodity derivatives segment, Sebi Chairman Ajay Tyagi told reporters here.

Such foreign entities would be allowed to hedge their exposures with derivatives trading in all commodities traded on Indian exchanges, barring sensitive commodities.

Besides, Sebi's board, during its meeting here, has cleared a proposal to introduce a common application form for foreign investors to enter into the domestic capital market. The move expected to improve ease of doing business. Tyagi said that the proposed Know Your Client (KYC) requirements and eligibility conditions for Foreign Portfolio Investors (FPIs) were discussed by the board. The discussions came against the backdrop of the circular issued on April 10, 2018 and the recommendations of the Working Group headed by former RBI Deputy Governor H R Khan.

PTI

PTI

Our Contributor help bring you the latest article around you


Exclusive

View All

Latest News

View All
Share it
Top